Page 17 - Tesla

Tesla breaks ground on Megapack energy storage battery factory in Shanghai

Electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries, Chinese state media reported Thursday. The USD 200 million plant in Shanghai's Lingang pilot free trade zone will be the first Tesla battery plant outside the United States. Tesla opened an EV plant in Shanghai in 2019 that assembles cars for China, Europe and other overseas markets. It is the No. 2 seller in the booming Chinese market for electric vehicles. The market leader is Chinese auto company BYD. The state-run Xinhua News Agency lauded Tesla's commitment to investing in China and defying the rhetoric of decoupling' and de-risking' from China. It said the factory was slated to start mass production in early 2025, with an initial capacity of 10,000 Megapack units a year. According to Tesla's website, each Megapack can store more than 3.9 megawatt hours of energy enough to power an average of 3,600 homes for one hour. They are designed mainly for utilit

Tesla's shareholder group slams CEO Elon Musk's $56 billion pay package

Musk's decision to buy Twitter, now called X, has also played a material role in Tesla's underperformance. Additionally, the group raised concerns in Monday's letter about Tesla's lagging sales

Tesla doing damage-control, offers discounts to European fleet buyers

The efforts include unofficial discounts on purchases of new cars if they are in stock and efforts to address widespread service

EV maker Tesla 'silent'; yet to communicate its India plans: Report

US electric carmaker Tesla is 'silent' and yet to communicate its India plans to the government under the new EV policy, an official said on Friday. American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations". Musk, CEO of electric carmaker Tesla, was also slated to meet Prime Minister Narendra Modi during the visit. "They (Tesla) are just silent.. the (EV) policy was always meant for everybody," the official said when asked whether the company has communicated its plans to the government. The commercial decisions are announced by the companies, the official added. An e-mail query sent to Tesla remained unanswered. Earlier in April, he confirmed his visit to India in a post on X saying, "Looking forward to meeting with Prime Minister @NarendraModi in India". In June last year, Musk met with Modi during the latter's US visit and stated that he planned to visit India in 2024

Number of ultra rich grows, more worth over $100 bn than ever before

Leading the pack is LVMH founder and Chief Executive Officer Bernard Arnault, 75, with a net worth of $222 billion

Tesla must face claims it misled buyers about autopilot and self-driving

Musk declared in April that Tesla is going balls to the wall for autonomy while committing the car maker to a next-generation, self-driving vehicle concept called the robotaxi

Tesla ramps up job cuts in China as sales slowdown bites, many depts hit

It's unclear how many people will be affected and what impact it may have on Tesla's China operations

Tesla board vows not to move Musk's $56 bn pay package court fight to Texas

Musk called for Tesla to move its corporate home to Texas after Delaware Chancery Judge Kathaleen St. J. McCormick in January rescinded his pay package over director conflicts of interest

Musk proposed to launch robotaxis in China during April visit: Reports

Musk on the trip intended to discuss the rollout of FSD and whether Tesla could secure government approvals to transfer data overseas that could prove pivotal in its development of autonomous vehicles

US seeks info from Tesla on how it verified if autopilot recall worked

The agency said it will evaluate whether driver warnings are adequate, especially when a driver-monitoring camera is covered

Tesla's China manufactured electric vehicle sales decline 18% in April

The sharp slide contrasts with rising EV sales in the world's largest auto market, albeit at the slowest pace in a year in the first quarter, amid slowing demand and a ferocious price war

Tesla lays off more staff in software, engineering, service teams: Report

The EV maker has been under pressure from dropping sales and an intensifying price war among automakers as elevated interest rates have slowed the adoption of electric vehicles

Tesla pullback puts onus on other firms to build electric vehicle chargers

"There is certainly a psychological component," said Robert Zabors, a senior partner at Roland Berger, a consulting firm. "Availability and reliability are critical to overall EV adoption."

Tesla vs Tesla: US carmaker sues Indian namesake for trademark infringement

During the hearing, the Indian company, Tesla Power India Pvt Ltd, argued its main business is to make "lead acid batteries" and it has no intention of making electric vehicles

Offers getting revoked weeks before start date: Tesla interns after layoffs

Tesla Inc. is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in

Tesla retreats from next-generation gigacasting manufacturing process

Tesla and Musk have said gigacasting helps the automaker reduce costs over the long term. But the process requires large initial investments

India 'shocked' as Elon Musk's surprise China visit leaves them spurned

India's pained reaction highlights the increasing rivalry between India and China, Asia two largest countries by population and among the region's most dynamic economies

Tesla chief Elon Musk's fortune soars by most since before Twitter purchase

In the past five days, the world's third-richest person has gained $37.3 billion in net worth, according to the Bloomberg Billionaires Index

TikTok and Tesla show that US-China battle over data is just beginning

The US now appears to be moving away from an open internet with unrestricted data flows and towards selected fragmentation based on national security concerns

Tesla wins data security clearance after Musk's surprise visit to China

The data security tests included how a vehicle collects "sensitive personal information" and whether a driver can easily stop a car from collecting data